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Martin Redmayne, president of Superyacht Group, said he is optimistic about the evolution of the market during his speech at the first day of the Balearic Yacht Show. It is the first virtual boat show in the Balearic Islands and takes place from 18th to 20th November 2020, where users can “virtually” meet over a hundred entities linked to the world of yachting.
The show comprises 360 boat tours, 100 companies in the marine industry with which to connect and conduct live meetings and more than 40 conferences related to the marine industry. Juan Carlos Plaza, director of the Balearic Islands Port Authority, said that this virtual show serves to ‘unite efforts and demonstrate the strength of the marine industry’.
Redmayne stated that the COVID-19 pandemic should lead to a busy summer 2021 for the charter world and that superyachts are becoming a safe bubble in which to enjoy a holiday away from cities or large resorts.
He also stressed the need for a more sustainable and environmentally friendly industry. "A boat that spends a large amount of gasoline to sail at 30 knots is not attractive to the new generation of potential buyers who are more aware of the need to take care of our planet.”
Antoni Riera, technical director of the Foundation Impulsa Baleares and professor of Applied Economics at the University of the Balearic Islands, spoke of the connection between nautical companies being a catalyst for overcoming the pandemic. "Before COVID-19, the Balearic Islands had 1,742 nautical companies, some of which with a great export capacity for both yachts and sails," said Riera in his telematic conference. "This business volume accounted for 14.7% of the Balearic industry and employed 7,066 people.”
Now, during the pandemic, Antoni Riera recommended "linkage and connectivity" between companies in the sector to revive business. "We must achieve a close connection between the actors of the marine industry," he said.
Riera admitted that the pandemic has "damaged" the nautical sector. "It has destroyed business fabric and has destroyed jobs, certainly, but I think we are able to, in 2021, turn that around with a response based on the connection between companies", he reiterated.
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